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India goes capitalist: In a sweeping election victory on Friday India voted a new pro-business prime minister into power.
The victory was a landslide, including a major sweep in parliament.
The long entrenched but now defeated Congress Party had begun moving away from socialism back in 1991, which produced a booming economy for India.
Prime Minister Singh launched reforms in 1991 as finance minister that opened India’s socialist economy to global capital, but his spell in the top job ended marred by corruption and a floundering economy amid mounting policy paralysis. He has already bid farewell to his staff after ten years in office.
The new leader, Narendra Modi, is expected to accelerate this effort.